MainePERS confirms $75m commitment

The US public pension has backed a US-focused venture capital fund.

Institution: Maine Public Employees Retirement System
Headquarters: Augusta, United States
AUM: $15.30bn
Allocation to alternatives: 45.70%
Bitesize: $50-100m

Maine Public Employees Retirement System has agreed to commit $75 million to General Catalyst Group X, a contact at the pension informed Private Equity International. The venture firm’s predecessor fund closed at $1.375 billion in April 2018.

The $15.30 billion US public pension has a 15.0 percent target allocation to private currently that currently stands at 15.60 percent.

As illustrated below, MainePERS has made seven commitments to private equity funds with a 2019 or 2020 vintage, which combined constitute $425 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.